Summer analyst vs Full-Time
I went through the Interview process for the summer analyst this past semester. My complete lack of interview experience destroyed me (ironic thing is, I've been working in "the industry", I guess you would say, for a hedge fund, for almost a year and a half-I got the job after just one interview though, my first one ever, which seems to have come back and bite me in the ass). I didn't know how to sell myself, was nervous, etc. I would nail all the tech questions, that wasn't the problem. But I guess the sight of a nervous wreck of an analyst to be didn't get the interviewers too hyped up about me. However, I went through dozens of the interviews during the process, with the last one resulting in it being down to me and one other guy for the position (he got it).
I guess me question is about the level of difficulty when it comes to landing the gig. Is it more difficult to get the full-time than the summer? Easier? I've heard it both ways. There are supposedly more spots, more companies across all types of industries are interviewing (so not everyone and their brother is dying to get that i-banking job).
I would have to say it is
I would have to say it is much, much easier to land a gig with a BB firm in a FT position.
It's really up to you though. What did you learn from screwing up an intern position? If you're willing to study up on the company more, practice your interviewing skills, and do as much as networking as possible, the FT should be yours.
This is assuming you're GPA won't kill you, you don't suck at life, and you go to a target school.
nice. i got the first two
nice.
i got the first two down (at least the first one, hope I do on the latter ;) )
dunno about the target though...Southern Methodist University in Dallas. Not a target, but we get our fair share of traffic (Bear is here, so is JPM and City, as is UBS). For the summer we got most of the BB going through, only GS had a resume drop, with the rest actually coming on campus.
true true
dunno about the target though...Southern Methodist University in Dallas. Not a target, but we get our fair share of traffic (Bear is here, so is JPM and City, as is UBS). For the summer we got most of the BB going through, only GS had a resume drop, with the rest actually coming on campus.
true true
pretty sure FT is harder
pretty sure FT is harder since most of the analysts are coming from their internships
agree with killermike
agree with killermike
It's firm specific. A firm
It's firm specific. A firm like Lehman that fills up its FT class with summers is nearly impossible, but most firms tend to hire more FT than summers, so that can be to your advantage.
I haven't been through the
I haven't been through the full-time process interview myself, but I can definitely sympathize with your lack of interview experience for summer. I would nail all the techicals questions thrown at me, but sometimes I had a lot of trouble answering "fit" questions because I had never interviewed for a job before. I had cut grass for my two previous summers.
Re: pretty sure FT is harder
pretty sure FT is harder since most of the analysts are coming from their internships
yeah but if they're any good, they already got an offer, right? then they wouldnt be direct competition. and if they did not get an offer, yeah they are obviously more knowledgeable since they worked for a firm all summer...but there must be reason they did not get asked back.
from everything i heard, getting a FT is easiers when you go through the summer program. so, if you DONT get an offer, won't firms perceive that as a red flag, thus making you even less of a threat than another candidate w/o summer experience?
rationalize it however you
rationalize it however you want, but the same mistakes that got you bounced from your summer interviews will get you bounced from the full time interviews. I really don't think the process is meainingfully "easier".
Anyways, my point was that for some firms most of their analysts are already coming from the internships so there are far few spots for full time offers.
You can think however you
You can think however you want. However, take advice from those who went through both processes.
You only need one spot
Don't let the numbers get you down. It doesn't matter that most of the FT positions are filled by summer returns, all you need is that one spot. FT interviews and superdays are intense, but as long as you prepare you will be fine.
Keep in mind that you got the interview in the first place. That means someone saw something in you. You've got an advantage over other candidates competing for a full time position.
I screwed up my summer internship interviews completely. I brushed up on my skills, found a summer job that was as close to finance that I could find, and networked as hard as I could.
I remember sitting in an info session for a full time position. My school was a non-target, but some banks do come by, similar to your school. The room was packed. The speaker was the MD that interviewed me, and I screwed up that interview. I asked him a question, "How many full time analysts are you planning to hire?" His reply "Not many." In the end, only 1 full time hire came from my school, but that was only spot I needed to be hired.